I write off my interest too. I buy new ones every year or two. The way I see it is I "get the interest back" so the cost of ownership is the down payment that I need to make if I am behind the depreciation game on the one I am getting rid of. I have been ok a couple times and have gotten my rear kicked a couple times! But I. The end it is all the cost of a lifestyle that we love.

As long as it has a bathroom the interest can be written off. This is according to our accountant, so we have been doing this every year and even back in the old days when we had a pop up with a potty.

We have had 5 or 6 units over the years and as mention above if it has bathroom it qualifies to write off the interest as a second home. I have been using Turbo Tax for years and no problems from the IRS when doing this.

As long as it has a bathroom the interest can be written off. This is according to our accountant, so we have been doing this every year and even back in the old days when we had a pop up with a potty.

It must also have cooking facilities and sleeping facilities as-well-as toilet.

I write off my interest too. I buy new ones every year or two. The way I see it is I "get the interest back"

You actually only get "your tax bracket" interest back only in the amount that your itemized deduction exceeds your standard deduction.

For example, the standard deduction for married filing jointly is $12,600.

That means you need to have at least that amount of property taxes, mortgage interest, medical expenses, charitable contributions, etc before you can deduct a cent.

Even then, you only get the discount of your tax bracket's tax rate. If your taxable income is more than $ 37,450 and less than 90,750, your tax rate is 25%.

So assuming you are in that tax bracket, and all your deductions with the RV's interest included is less than 12,600 dollars, every dollar in interest is out of your pocket.

Say you pay lots of mortgage interest, and with the RV's interest of $2000 included, and your deductions will exceed $12,600 dollars by the $2,000 contributed by your RV loan, your tax "savings" will be only $500 of that interest. $ 1,500 of it will still be "out of pocket".

Worse yet, as your loans age, the tax deduction reduces every year till it disappears even though you are still paying the same amount due to more principle being paid and less interest.

The sales tax deduction has to also pass a "test". You can only deduct the higher of your state income tax OR your sales tax based on your gross income plus the sales tax on "large ticket" items like a house, car, boat, or RV; not both.

Financing ONLY because "you can write off the interest" is not good money management. If you have to anyway, you "MAY" get a small financial benefit depending on your particular financial circumstances and where you live.

Additionally, you can only write off the interest from financing the TRAILER in a 5th wheel or Travel Trailer. The truck's interest is NOT deductible. ALL of the motorhome is because it is all one item.

Your correct Herk7769, we purchased/financed a new Class C last year thinking we would get a break on deductions for sales tax and mortgage interest. We didn't meet the threshold and never got a nickle credit. We will be paying the loan off in another month. We can use that interest $ for a vacation every year.

Considering only a third of taxpayers have enough deductions to itemize, i have to wonder how many people think they are writing off the interest (because they enter it into Turbo tax or give it to their their tax preparer) but in reality are just taking the standard deduction and getting zero tax benefit.